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You may realize that the government does, at times, take the homes of landowners in order to make way for new public or commercial developments under the concept of eminent domain.1 However, many business owners may wonder whether the government can take their business under eminent domain, as well. The good news for business owners is that the government cannot take ownership of your actual business entity (the corporation, LLC, partnership, etc.). The bad news is that the government can, under many circumstances, take the building that houses your business and the property on which it exists.
Property can be critical to the business
Though eminent domain can never strip you from your title as owner of the business itself, the taking of your commercial property can certainly hinder the success of your business. For example, your business may suffer for some of the following reasons and more:
Even if the government only wants part of your property, it can sometimes affect your overall bottom line significantly. For example, if you have a gas station, you may have to give up several pumps or your service garage, which can cause you to lose major revenue. In such cases, even if you still own your business, the business may not be nearly successful after condemnation.
Contact an experienced condemnation attorney in Indiana for help today
If you are a business owner and the government wants to take your property under eminent domain, you also want the representation of an attorney who understands condemnation and how to best stand up for the rights of commercial landowners. At the law firm of Sever Storey in Indiana, we have helped many landowners receive just compensation for their property or fight the taking altogether. Please call our office at 888-318-3761 to find out how we can help you today.
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